Coastal Energy (LON:CEO, 310p, ? (4.38%)) announced an update of its operations in Thailand. Coastal's offshore production from the offshore project Songkhla A averaged approximately 7,100bopd for the first quarter of 2010. Production was impacted by downtime on the Songkhla A-04 well while the submersible pump was being replaced as well as downtime on the A-01 and A-03 wells while larger submersible pumps were installed. Currently, Coastal's offshore production is averaging approximately 9,500bopd. Combined with its onshore production from the Sinphuhorm gas field, total production is approximately 11,500boed.The Company also announced that it has received government approval of its Environmental Impact Assessment for the Bua Ban field development, allowing it to proceed with development of the field later in 2010. At Phu Kheng-1, L27/43, in which Coastal holds a 36.1% working interest, the operator completed a hydraulic fracturing test targeting a shallower interval in the Phu Kradung sandstone than was previously tested. Despite the presence of gas saturation and porosity determined from wireline logs, the targeted interval did not flow after the frac operation. The partners in the block have agreed to plug and abandon the well.
Egdon Resources (LON:EDR, 11.5p, ? (4.17%)) announced the start of drilling operations at the Keddington oil field in Lincolnshire Licence PEDL005 (Remainder). Egdon holds a 75% interest in and is operator of the PEDL005 (Remainder) licence. The joint venture partners are Terrain Energy Limited, which holds a 15% interest and Alba Resources Limited, a wholly owned subsidiary of Nautical Petroleum plc, which holds a 10% interest.
The Keddington-3 well will be drilled as a re-entry and horizontal sidetrack from the Keddington-2y "donor" well which was drilled by Roc Oil in 2000. The well has been contributing 25-30 bopd to field production since being recompleted for pumped production by Egdon in early 2009. However, well productivity has been restricted since the well was drilled, by the presence of a drilling assembly stuck in the open hole just below the existing casing and perforations. It is intended to significantly increase field production by drilling the Keddington-3 sidetrack which is planned to penetrate approximately 500m of new horizontal section largely in the oil productive Unit 1 Sandstone. Drilling and completion operations are expected to last a total of around three weeks.
Pan Pacific Aggregates (LON:PPA, 0.75p, ? (6.25%)) announced at immediate sales have…
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